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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Planning Commission, India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
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